The CFGI Banking Team will operate as an extension of your team or department to drive high quality solutions within the scope and timeline determined by you and your team, department leaders, and key stakeholders.
CFGI Banking Professionals have experience supporting these solutions through regulatory remediation projects that require disciplined reporting, project management, and solution production to remediate the Regulator’s findings within the defined plan communicated with the Regulator.
Disciplined reporting, project management, and solution production to remediate the Regulator’s findings within the defined plan communicated with the Regulator.
CFGI Banking Professionals include former banking CROs and CFOs, understand expectations, and bring little ramp-up time to banking initiatives.
CFGI Banking Professionals support regulatory remediation projects that require disciplined reporting, project management, and solution production to remediate the Regulator’s findings within the defined plan communicated with the Regulator.
CFGI supports control design assessment, operational effectiveness testing, and phased work to enhance internal control infrastructure across the bank.
CFGI supports opening balance sheet work, accounting operations integration, SEC reporting, 10-Q and 8-K filings, and interactions with external auditors.
CFGI supports enhancements to risk management procedures, processes, reporting templates, and risk department training on reporting processes.
CFGI supports analytical procedures over large sets of transaction-level BSA and AML data related to specific banking initiatives and requirements.
CFGI supports remediation of regulatory findings linked to accounting processes and banking cores, along with implementation of new accounting guidance such as CECL and lease accounting.
The Head of Operations identified a need for enhanced internal control infrastructure across the bank, including an assessment of control design and testing of operational effectiveness. The bank needed a business partner and service provider that could provide internal control expertise, solutions, and service flexibility at a cost-effective price point to support the build of the internal control infrastructure in distinct phases.
The CFGI Banking Practice Leader, Banking Managing Director, and Banking Manager met with the bank’s Head of Operations and new Controls Director to determine the solutions needed, project phases, and overall scope. CFGI deployed a team of Banking Managers to lead multiple phases of work to enhance the overall infrastructure.
A regional bank acquired a smaller community bank and required support to complete an opening balance sheet and expertise to lead the accounting operations integration between the two banks. Additional need surfaced related to SEC reporting expertise and support due to limited team bandwidth resulting from the demands of the acquisition.
The CFGI Banking Practice Leader and Banking Managing Director met with the acquiring bank’s Chief Financial Officer and Controller to determine the critical needs for the opening balance sheet and accounting integration. CFGI deployed an engagement team to establish and complete the opening balance sheet, integrate month-end accounting processes, provide enhancements during integration, lead post-integration accounting processes due to accounting leadership turnover and bandwidth constraints, support SEC reporting including 10-Q and 8-K filings, and co-lead interactions with the regional bank’s external auditors.
A community bank determined it required a business partner and service provider to support enhancements to risk management procedures, processes, and reporting. Additional need surfaced related to analysis and reporting of BSA and AML transaction-level data.
The CFGI Banking Practice Leader and Banking Director met with the Chief Compliance and Chief Risk Officer to determine the critical needs for risk management procedures, processes, and reporting enhancements. CFGI also determined an analytical approach for a large volume of BSA and AML transaction data, reviewed and enhanced risk procedures and interaction models, documented enhancements, developed risk reporting templates and procedures, led the first round of risk reporting, trained the risk department on the reporting process, and deployed banking analysts to review and report on transaction-level data.
This scenario applies to over 10 separate and distinct community banks that had needs related to the remediation of regulatory findings directly linked to accounting processes and their respective banking cores. These banks needed a business partner and banking core subject matter expertise that could dive in immediately and begin providing progress toward remediation at a cost-effective price point.
The CFGI Banking Practice Leader and Banking Managing Director, who served as the Banking Core SME, met with the respective Chief Financial Officers and Controllers to determine the specific findings that required immediate focus due to complexity and timing of resolution. CFGI deployed an engagement team and the Banking Core SME to remediate the findings.
This scenario applies to over 10 different community banks that had technical accounting needs related to implementation of new accounting guidance, including CECL and lease accounting. These banks needed a business partner and service provider with technical accounting expertise that could assess and document technical accounting conclusions and update accounting processes, procedures, and policies for the newly adopted accounting guidance.
The CFGI Banking Practice Leader and Banking Managing Directors met with the respective Chief Financial Officers and Controllers to determine the specific scope of services required to implement the accounting standard updates. CFGI deployed a technical accounting SME to assess and document the new accounting guidance impact to the bank, including new accounting processes, procedures, policies, and presentation and disclosure conclusions.
Partner - Midwest Market Leader & Banking Leader
Jack brings over 19 years of accounting, finance, and management experience within the Banking & Financial Services industries. His experience includes operational and technical accounting, policy and procedure enhancements, enterprise-level project management, accounting standard implementation, regulatory finding remediation, risk and governance enhancement, and reporting process development.
Talk with Jack Grignano about banking solutions, regulatory remediation support, accounting and finance, transformation, risk and compliance, banking support, and tax.